Peace Of Mind Through Advance Planning

Think of how you've spent your life thus far; if you got into an accident tomorrow, would anybody know your wishes for medical care if you weren't able to communicate them yourself? If you died, would you be willing to let the courts decide how to divide up your assets? Tending to your estate plan before it's too late is a crucial step to make sure that these decisions remain with you while you're still fit to make them.

Legalize Your Intentions

There are several legal tools available by which people can establish their desires for asset distribution and other decisions. Some of these tools are listed below.

Living will. This is a document that outlines what sort of medical treatment you would like to receive in the event that you become unable to communicate your desires directly. If you are unable to speak for yourself, a living will can help family members make decisions about whether to continue life support, and under what circumstances.

Power of attorney. This document gives a person the authority to make decisions on behalf of another person. The designation may be limited to a particular situation, or may also grant more wide-ranging authority.

Irrevocable/revocable trust. A trust is an instrument by which ownership of a property can be protected from the probate process. A person can transfer ownership of a property to a trust in a way that is either reversible (revocable) or irreversible (irrevocable).

You don't have to be of retirement age to have elements of an estate plan in place. Accidents can happen at any age. Establishing a power of attorney and a living will clarifies your desires in the event that you're not able to communicate them yourself.

Find A Tool That Fits Your Circumstances

To learn more about these and other estate planning tools, including guardianships, call Bond & McCullough in Doylestown at 215-792-2015 for a free initial consultation with one of our lawyers, or contact us online.